Industries
AI Compute Energy
All research in AI Compute Energy — 13 reports.
41/100
Dongfang Electric: A Long-Term Business Owner's Perspective
China's platform-scale leader in power-generation equipment, spanning thermal, hydro, nuclear, gas, wind, and solar with sustained order growth. Free cash flow trails accounting profit meaningfully, and the A-share price at roughly 33x P/E already prices in improvement in heavy-duty gas turbines and nuclear power, leaving no margin of safety. Rating: Watch.
32/100
Shanghai Electric: A Long-Term Business Owner's Investment Analysis
Shanghai Electric is a heavy-asset state-owned equipment platform with durable long-term demand but weak earnings quality. At roughly 117x PE and 2.57x PB, the A shares already price in optimistic improvement and leave no margin of safety. Rating Watch: a business you can understand at a price that overpays for a better future.
46/100
Bloom Energy In-Depth Value Investment Research
Bloom Energy is an onsite solid oxide fuel-cell power platform positioned for AI data-center time-to-power demand. Its 2026 Q1 revenue rose 130% year over year, with gross margin and operating cash flow turning positive, but customer and financing concentration, convertible debt and stock-based dilution, and a roughly 30x P/S multiple at $261.34 leave too little margin of safety. Research rating Watch: a progressing company worth tracking, with an ideal buy range of $30 to $60.
31/100
Babcock & Wilcox Enterprises: A Value Investing Deep Dive
A highly leveraged, heavily dilutive energy-equipment turnaround stock carrying an AI data-center power option, with negative shareholders' equity and an unremediated material weakness in internal controls. At today's $19.59, there is almost no margin of safety. Rating Avoid: a high-uncertainty company priced for a very optimistic outcome.
40/100
EQT Corporation: A Long-Term Value Investing Deep Dive
EQT is a vertically integrated natural gas company centered on the Appalachian Basin, spanning upstream, gathering, and transmission, with 28.0 Tcfe of proved reserves and 2,945 miles of pipeline. In 2025 operating cash flow reached USD 5.126 billion and net leverage fell to about 1.3x, but the company remains fundamentally a natural gas price taker, and M&A has expanded its share count by roughly 65% over three years. Rating Watch: at the current price of $59.77 the margin of safety is insufficient; ideal buy range is $35–42.
41/100
Liberty Energy In-Depth Research Report
A leading North American fracturing and well-completion services provider with upside optionality from its distributed power business, but the core business is highly cyclical, has a shallow moat, and produces unstable cash flow; at a current price of about $33, the stock lacks a clear margin of safety. Rating: Watch.
32/100
PSIX Deep-Dive Research Report
A small-cap power-systems company that has finished its operational turnaround and landed squarely in the data-center power boom, but whose moat is shallow, customer base concentrated, and cash flow and earnings diverge, leaving it not cheap on a normalized basis. Rating Watch: a real turnaround riding a hot cycle, not yet a proven wide-moat long-term compounder.
33/100
ProPetro Holding Corp. Deep Value Research
A Permian Basin frac and completions oilfield-services provider that is using legacy cash flow to incubate the capital-intensive distributed power platform PROPWR. In 2025 GAAP net income was just $0.82 million and free cash flow about $45.3 million; the current share price already prices in the transition, leaving an inadequate margin of safety. Rating Watch: an understandable but not high-quality cyclical whose price has run ahead of proof.
45/100
Solaris Energy Infrastructure: In-Depth Research Report
A pivot from oilfield-services logistics to a distributed natural-gas power-generation leasing platform serving data centers, with long-term lease receivables reaching $3.5 billion. But roughly $1.26 billion of remaining 2026 capex, a single customer at 47% of revenue, and a share price that already prices in an optimistic deployment scenario leave little margin of safety. Rating: Watch.
42/100
Talen Energy Corporation In-Depth Research Report
A 13.1GW generation fleet (including 2.2GW of scarce nuclear) sits inside PJM, and the company is contracting its merchant cash flows through a full-scale 1,920MW AWS long-term agreement with roughly $18 billion in nominal value; but at $314.57 the stock already prices in most of the upside from the AWS ramp, high PJM capacity prices, and the Cornerstone acquisition, and with acquisition leverage plus Susquehanna asset-concentration risk the margin of safety is thin. Good assets, bad price; rating Watch, ideal buy $220–260.
43/100
Vistra Corp.: A Deep Study from the Long-Term Owner's Perspective
Vistra is an integrated U.S. power platform spanning retail, generation, nuclear, and storage, with roughly 5 million customers, 44,000 MW of capacity, and the second-largest competitive nuclear fleet in the U.S.; its cash-generating capacity improves in 2026–2027, but cyclical and nuclear PTC risks remain, and at the current $134.71 the margin of safety is insufficient, rating Watch, ideal buy $100–115.
43/100
Constellation Energy: A Long-Term Value Investing Deep Dive
One of America's scarcest clean, reliable power assets (nuclear + Calpine gas/geothermal, ~55GW), with long-term contracts already signed with Microsoft/Meta/CyrusOne. But at $262 the stock has partly priced in the 'AI power-scarcity premium', with a trailing P/E of 26.7x and an insufficient margin of safety. A textbook 'good company, bad price'. Rating: Watch.
AI Supply Chain Deep Dive: The Energy Constraint Inside the Compute Build-Out
The AI compute build-out has entered a "power-system constraint" phase; the first to benefit are not the generators but data-center electrical equipment, cooling, and the medium/high-voltage distribution path, with the near-term bottlenecks sitting in large gas turbines, transformers/high-voltage gear, and grid interconnection approvals. Key names to track include Vertiv, Eaton, Schneider, GE Vernova, Hitachi Energy, and Constellation. Rating Watch: a structural demand story where the most certain, most verifiable winners are the equipment makers in the shortest, most supply-constrained parts of the chain rather than power producers broadly.